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> Daily Interest Calculation VS Monthly

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Terel
post Oct 15 2009, 10:37 AM

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Daily rest is usually better because of the flexibility of making more payments. Sometimes when you manage your budget or under certain circumstances, you might have additional cash and want to make more payments to reduce your interest. So paying any day will re-calculate your interest daily.

I'd advise against it if you have to call and inform. You want to service a loan that is as hassle-free as possible. Don't forget that you'll be dealing with the bank for many many years and don't need the additional stress month-in month-out.

This is better in the long run la. -2.20%? Make sure you understand the terms and conditions applied. Check out Public Bank, CIMB or Hong Leong. They're more housing loan focused and friendly.

This post has been edited by Terel: Oct 15 2009, 10:42 AM

 

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